Corporate Leaders Tout Philanthropy's Benefits Amid Grim Financial News

“We haven’t had a problem getting Jeff’s time or funding our budget,” said Mr. Corcoran, referring to GE’s chief executive, Jeffrey Immelt. “Our budget is being held flat, and it’s one of the very few corporate budgets that is, and that’s a huge endorsement of the value of this.”

During Monday’s discussion, the foundation presidents said the recession had caused them to reexamine how they were giving and what causes they supported. Some decided to step up volunteerism and explore other non-cash ways of helping charities.